With the Union budget in the offing, it is not surprising to see the markets being as volatile as they possibly could be. Even though equities had been rallying in the past few weeks, there are finally witnessing some profit. Global markets however continue to dampen spirits.
Still an occasional spurt of green, which is now gaining frequency, is enough to boost confidence that the worst is behind the global markets. All is still not well however and there are occasional setbacks. News of China being over heated, while Europe still struggling with debt, mars the enthusiasm that’s only just begun to warm up. These news are enough to create panic in markets which have yet to stabilize completely.
Inflation in addition to the unemployment issues present a grilling challenge. All this is quite evident as the consumer confidence remains shaky. Owing to all these factors, Nifty has further slipped down and is now below the 4900 mark. Bigwigs like Relaince and Unitech, both were amongst the top losers.
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